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2017 (5) TMI 434 - HC - Income TaxAssessment of amalgamated company - Effective date of amalgamation - appointed date from which the scheme would be effective - Held that:- In the case at hand, the Bombay High Court in sanctioning the scheme of amalgamation has not specified any other date from which the scheme will be effective. Therefore, in the absence of any such date specified by the High Court, the appointed date mentioned in the scheme would be the relevant date from which the amalgamation/transfer takes place. Since the aforesaid date is 1.4.2008, the aforesaid company Rave Entertainment Private Limited stood dissolved and ceased to be in existence from the said date and was not liable for assessment for the Financial Year (1.4.2008 to 31.4.2009). The questions are answered accordingly in favour of the assessee and against the revenue and it is held that Income Tax Appellate Tribunal has not committed any illegality in holding 1.4.2008 as the effective date of amalgamation.
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